Net FSCS levy contributions to decrease
The Financial Services Compensation Scheme (FSCS) has set its levy for 2008/09 at £131.7m.
The industry will pay an initial net levy of £28.3m in new money for 2008/09 to fund the Scheme. This reduces the overall bill to the industry by £2.4m from the figure of £30.7m published in the FSCS Plan and Budget 2008/09 after FSCS refined its claims and compensation projections for the year.
Although the bill to the industry has reduced, the total levy requirement for the year shows an increase of £0.9m from original forecasts published in FSCS’s Plan and Budget 2008/09 in February
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